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14 Apr 2015
USD/CAD consolidates below 1.2600
FXStreet (Edinburgh) - The greenback is trading in a narrow range vs. its Canadian counterpart on Tuesday, taking USD/CAD to the lower bound of the range near 1.2570.
USD/CAD eyes on US data, BoC
The pair is looking to consolidate yesterday’s drop from the mid-1.2600s ahead of today’s key Retail Sales in the US economy and tomorrow’s BoC monetary policy meeting and subsequent presser by Governor S.Poloz.
The pair could see its upside renewed today if consensus for a stronger print from retail sales materializes, although the upbeat tone around crude oil prices remains lending support to the CAD.
USD/CAD levels to watch
At the moment the pair is retreating 0.14% at 1.2579 with the next support at 1.2555 (low Apr.13) followed by 1.2532 (daily cloud top) and finally 1.2522 (high Apr.7). On the other hand, a breakout of 1.2612 (Kijun Sen) would aim for 1.2613 (high Apr.9) and then 1.2646 (high Apr.13).
USD/CAD eyes on US data, BoC
The pair is looking to consolidate yesterday’s drop from the mid-1.2600s ahead of today’s key Retail Sales in the US economy and tomorrow’s BoC monetary policy meeting and subsequent presser by Governor S.Poloz.
The pair could see its upside renewed today if consensus for a stronger print from retail sales materializes, although the upbeat tone around crude oil prices remains lending support to the CAD.
USD/CAD levels to watch
At the moment the pair is retreating 0.14% at 1.2579 with the next support at 1.2555 (low Apr.13) followed by 1.2532 (daily cloud top) and finally 1.2522 (high Apr.7). On the other hand, a breakout of 1.2612 (Kijun Sen) would aim for 1.2613 (high Apr.9) and then 1.2646 (high Apr.13).